Description
Whether it's Reddit, a Facebook group, or any of the other myriad online discussion forums for U.S. expats, whether or not you – a U.S. expat – can contribute to an IRA is typically one of the most discussed topics for Americans living abroad. The simple answer is yes, you can, as long as you have employment income. Outside of that, no one rule prohibits a U.S. expat from contributing to an IRA. But as Keith Poniewaz, Ph.D., puts it so aptly in this episode, "Can you contribute to an IRA as an expat? Yes. Should you? Maybe." Hence the need for this episode – and the corresponding article from Syl Michelin, CFA, who joined Keith on this episode.
Keith and Syl dig more into why an expat might, or might not, want to contribute to an IRA while living abroad. And because of things like Foreign Earned Income Exclusion, which you may have seen abbreviated as FEIE, and foreign tax credits, how much you're able to contribute to an IRA or Roth IRA can be more complicated, especially with a Roth.
Questions on IRAs, Roth IRAs, or anything else expat-related? Reach out to us using the links section below or send us a voice message on Spotify.
Disclosure: We are not CPAs. Please consult a tax professional if you have any tax questions specific to your own situation.
LINKS
Watch on YouTube
Article: Can I Contribute to an IRA as an American Expat
Walkner Condon's U.S. Expat YouTube Channel
Educational Materials for Expats
Contact Us
---
Send in a voice message: https://anchor.fm/walkner-condon-expats/message
With remote work on the rise, many digital nomads and international families split their time across countries, navigating complex tax laws and residency rules. In this episode of Gimme Some Truth, we explore common tax pitfalls of global living, why the "183-day rule" might not provide full...
Published 11/11/24
Much is changing in the world of U.S. Estate Planning with regards to the possible sunsetting of the increased estate exemption in the United States in 2025. In this podcast, the International Team at Walkner Condon discuss how these possible changes will effect American expats and how they plan...
Published 10/28/24